L&T likely to appoint Nomura, Citigroup to advise on sale

Larsen & Toubro (L&T) has appointed Nomura Holdings Inc. and Citigroup Inc. as investment bankers to advise it on a potential bid for Satyam Computer Services Ltd, according to an executive at India’s biggest engineering company.

The banks would advise L&T once the Indian software provider announces a stake sale plan, said the executive, who declined to be identified because the matter is confidential. Larsen Chief Financial Officer YM Deosthalee didn’t answer his mobile phone.